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  • Western Australian internet service provider Pentanet (5GG) will list on the ASX on February 5 following its initial public offering (IPO)
  • Under the IPO, the company is looking to raise around $22.5 million at 25 cents per share
  • Over the past 12 months, the company has grown its subscribers by 218 per cent and has seen this rate of growth continue over the last three months
  • When highlighting some of its key business risks in its prospectus, Pentanet flagged its status as an emerging company
  • Because of its youth, the internet service provider says it’s in the early stages of development and, as a result, will need to manage its growth accordingly
  • If the IPO is successful, Pentanet will list on February 5

Internet service provider Pentanet (5GG) will list on the ASX on the first week of February following its initial public offering (IPO).

The company is based in Western Australia and is looking to raise around $22.5 million at 25 cents per share.

Pentanet describes itself as Perth’s largest fixed-wireless network service and delivers superfast speeds within the 2000 square kilometres of coverage across the metropolitan area. Additionally, it also delivers services for the National Broadband Network (NBN) and Local Broadband Network (LBN).

Over the past 12 months, the company has grown its subscriber base by 218 per cent and has seen this growth continue over the last three months.

“To further power this growth, we plan to roll out next-generation fixed-wireless technology, developed by Facebook called Terragraph, which will enable us to offer both higher speed plans and allow us to serve more customers “on-net” rather than via the NBN,” Non-Executive Chairman David Buckingham said.

“The Terragraph technology allows us to join households with line of sight to our towers and join households without line of sight to our towers using the innovative mesh network of Terragraph. Unlike expensive mobile phone 5G network rollouts, this technology does not require spectrum licencing,” he added.

A key growth strategy for Pentanet is to expand the network and service availability with the deployment of millimetre-wave (mmWave) Terragraph technology, which has been fused into the design and rollout of the
existing network infrastructure.

When highlighting some of its key business risks in its prospectus, Pentanet flagged its status as an emerging company. Because of its youth, the internet service provider says it’s in the early stages of development and, as a result, will need to manage its growth accordingly.

If the IPO is successful, Pentanet will list on February 5.

5GG by the numbers
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